2 excellent ASX shares for a retirement portfolio

These ASX shares could be a good fit for retirees…

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If you're looking for retirement portfolio options, then you may want to look at the shares listed below.

Here's why these ASX shares could be good options for retirees:

couple looking at paper on desk

Centuria Industrial Reit (ASX: CIP)

The first ASX retirement share to consider is this industrial-focused property company. Centuria Industrial owns a portfolio of high quality industrial assets that has been constructed with the aim of delivering consistent income and capital growth to investors.

The company's portfolio is heavily weighted to areas of the economy that are growing fast and are in demand from tenants. This includes properties linked to the production, packaging, and distribution of consumer staples, telecommunications and pharmaceuticals.

One leading broker that is positive on the company's outlook is Macquarie. It currently has an outperform rating and $4.22 price target on its shares. The broker is also forecasting dividends per share of 17.3 cents in FY 2022 and 18.4 cents in FY 2023. Based on the current Centuria Industrial share price of $3.78, this equates to 4.6% and 4.9% yields, respectively.

Lifestyle Communities Limited (ASX: LIC)

Another ASX share that could be a good option for a retirement portfolio is Lifestyle Communities. It focuses on building, owning, and operating land lease communities that provide affordable housing options to Australians over 50.

The company's land lease model allows people to downsize their family home to free up equity in retirement whilst enjoying resort style living. This is proving to be very popular among Australia's ageing population, which is underpinning solid growth.

The good news is that the team at Goldman Sachs expect this solid form to continue. This is due to its belief that demand for land lease will strengthen as older Australians looks to enhance retirement by releasing equity from the family home.

At present, the broker has a buy rating and $21.60 price target on its shares. It is also forecasting consistent dividend growth in the coming years. And while the yield is modest at current prices, it will grow in time.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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